Most Modified Medical Care Stock (NASDAQ:CLSN)

New York, NY -- (SBWIRE) -- 02/25/2013 -- Celsion Corporation (NASDAQ:CLSN) is an oncology drug development company focused on the development of treatments for those suffering with difficult to treat forms of cancer. As of December 31, 2011, the Company's product ThermoDox is being evaluated in a Phase III clinical trial for primary liver cancer (the HEAT study), a Phase II clinical trial for colorectal liver metastasis (CRLM) and a Phase II clinical trial for recurrent chest wall breast cancer. ThermoDox is a liposomal encapsulation of doxorubicin, an approved and frequently used oncology drug for the treatment of a range of cancers.

Celsion Corporation (NASDAQ:CLSN) shares fell 3.36% to $1.15. The company, on Feb. 22, announced that it has received commitments from institutional investors to purchase an aggregate of $15 million of the Company's securities in an at-the-market registered direct offering, led by a dedicated health care fund.

Additionally, the company entered into definitive purchase agreements with these investors pursuant to which the Company agreed to sell an aggregate of 15,000 shares of its zero coupon preferred stock (which are convertible into a total of approximately 12.1 million shares of common stock) and warrants potentially exercisable for up to approximately 6.0 million additional shares of its common stock.

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